Puma Biotechnology Inc (PBYI) Downgraded by BidaskClub to Buy
BidaskClub downgraded shares of Puma Biotechnology Inc (NASDAQ:PBYI) from a strong-buy rating to a buy rating in a report published on Tuesday morning.
Several other brokerages have also recently issued reports on PBYI. Stifel Nicolaus restated a buy rating and set a $110.00 price objective (down previously from $118.00) on shares of Puma Biotechnology in a research note on Thursday, August 10th. J P Morgan Chase & Co restated a buy rating on shares of Puma Biotechnology in a research note on Tuesday, July 18th. Credit Suisse Group restated an outperform rating and set a $136.00 price objective on shares of Puma Biotechnology in a research note on Wednesday, September 27th. Citigroup Inc. reiterated a buy rating and set a $114.00 price target on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Finally, Cowen and Company reiterated an outperform rating and set a $120.00 price target (up from $91.00) on shares of Puma Biotechnology in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $130.67.
Shares of Puma Biotechnology (NASDAQ PBYI) traded down $0.90 during midday trading on Tuesday, reaching $100.20. The company’s stock had a trading volume of 959,300 shares, compared to its average volume of 1,120,352. Puma Biotechnology has a 12-month low of $28.35 and a 12-month high of $136.90.
Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.50) by $0.43. The firm had revenue of $6.10 million for the quarter, compared to analyst estimates of $3.78 million. During the same quarter in the previous year, the company earned ($1.11) EPS. equities research analysts expect that Puma Biotechnology will post -8.36 EPS for the current fiscal year.
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In related news, SVP Richard Paul Bryce sold 15,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the senior vice president now directly owns 42,239 shares of the company’s stock, valued at approximately $5,068,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Puma Biotechnology by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,474,644 shares of the biopharmaceutical company’s stock valued at $216,284,000 after purchasing an additional 45,735 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Puma Biotechnology by 1.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,890,901 shares of the biopharmaceutical company’s stock worth $226,435,000 after acquiring an additional 33,270 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Puma Biotechnology by 5.0% during the 2nd quarter. BlackRock Inc. now owns 1,830,342 shares of the biopharmaceutical company’s stock worth $159,973,000 after acquiring an additional 86,924 shares in the last quarter. Perceptive Advisors LLC boosted its stake in shares of Puma Biotechnology by 26.0% during the 3rd quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock worth $110,627,000 after acquiring an additional 190,500 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Puma Biotechnology during the 2nd quarter worth $50,134,000. 95.41% of the stock is owned by hedge funds and other institutional investors.
About Puma Biotechnology
Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.
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